Anyone else spending $$ on CC in anticipation of Inflation

[Cali-Glock]

I think we are going to see major inflation and a dramatic devaluation of the dollar.

The combination of this along with a sketchy world I just went a bit nuts this evening;

Two complete Aero uppers with Geissele Automatics M4A1 (M-16 cut) 5.56 Bolt Carrier Group, Aero Precision AR-15 Ambidextrous Charging Handle, Aero Precision AR-15 Carbine Buffer Kit and Magpul Fixed Carbine Stock.

(Already have Aero Precision M4E1 lowers, Aero LPK, drop-in triggers, Ambi-selectors, and features grips.)

A complete PSA 16" build kit with Magpul MBUS.

Bunch of other stuff: more Ambi Charging handles, a bunch of compensators, featureless grips, several Magpul MBUS and one Magpul MBUS Pro offset and some other small parts.

Also ordered a Holosun HS403B for cheap and am considering also ordering a Holosun 510 and 3x magnifier.

[tamalpias]

if this was just a USA thing yes I can see massive inflation, but since it is a world wide event every other currency is devaluing and causing the dollar to gain in demand and value compared to the rest of the world. I am more worried about deflation.

[the86d]

Nope, got more flingie senders than we need, pre-reg...

Reloading press for 4 calibers, and a 12-guage shot-shell press (although I haven't bought wads and shot yet, but powder and primers already on-hand).

[The War Wagon]

I need CR123 batteries, MORE than I need ammo, guns, or parts, at this point.

[the86d]

Originally Posted by The War Wagon

I need CR123 batteries, MORE than I need ammo, guns, or parts, at this point.

Have you considered rechargeable 750-800Mah LIEPO4 RCR123A's?

Half the life, but a bit-load of recharges.... and about-near the price of a CR123.

[miglo]

OP, who are we really kidding here. This has nothing to do with inflation. You just wanted to buy crap. Admit it. Lol

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[Solanaco]

The interest rate on most credit cards is far worse than any inflationary losses in the next 30 to 60 days... If you want a gun, get a gun - if you can find it in stock

[riderr]

Originally Posted by Cali-Glock

I think we are going to see major inflation...

If only the U.S. economy crashed, you would see the inflation scenario. Otherwise, when the entire world economy goes to trash, I anticipate a slight deflation of the U.S. dollar over the most European and Asian currencies

[Cali-Glock]

Originally Posted by miglo

OP, who are we really kidding here. This has nothing to do with inflation. You just wanted to buy crap. Admit it. Lol

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[Mr. Beretta]

Originally Posted by The War Wagon

I need CR123 batteries, MORE than I need ammo, guns, or parts, at this point.

The Battery Station.

http://www.batterystation.com/cr123a.htm

None better. Been doing business these honest folks for years. Their "house brand" of CR123 batteries are made in USA & are just as as good as the big name brands. I've been buying / using them for many years. Great prices, fast shipping.

Good Luck!

[Norcalkid]

I don't think we will see crazy inflation as other countries are spending/borrowing too.

I actually think there are going to be a lot of bargains a couple months from now with all the job loss (second cars, boats,RV,motorcycles, guns, etc)

[seanbo]

Going into debt right now is a bad idea.

[harbormaster]

Stocks down,
Bullion down,
Jobs cut,
Rates cut,
Oil down,
Real estate always slow to the party,

What makes you think inflation is at hand? If you have no money / income how do you pay the CC, mortgage or rent?

It’s happened before. It was called the Great Depression and people sold everything for another month indoors.

[therealnickb]

I agree with the folks that said don’t use credit for this. If you’re truly worried about inflation use that cash.

[harbormaster]

If you fear inflation = use cash
If you fear deflation = hoard cash

Originally Posted by therealnickb

I agree with the folks that said don’t use credit for this. If you’re truly worried about inflation use that cash.

[Duck Killer]

Originally Posted by harbormaster

Stocks down,
Bullion down,
Jobs cut,
Rates cut,
Oil down,
Real estate always slow to the party,

What makes you think inflation is at hand? If you have no money / income how do you pay the CC, mortgage or rent?

It’s happened before. It was called the Great Depression and people sold everything for another month indoors.

Ammo up. Think about that.

[riderr]

Originally Posted by Duck Killer

Ammo up. Think about that.

Ammo is always up when a crisis hits. Then, it slides down rather quickly

[DrjonesUSA]

Let's talk about this more.....

Yes, it's definitely dawned on me to spend Other People's Money just in case things really go sideways...saving my cash for myself....

Not going to screw the CC co's, but ...yeah; I don't see any reason to spend my own cash for right now...so much has & can change each day, let alone in 30 when the bill comes due!

Tell me more of your thoughts on this, Mr. Cali-Glock......We're on the same page.

[miglo]

Originally Posted by DrjonesUSA

Let's talk about this more.....



Yes, it's definitely dawned on me to spend Other People's Money just in case things really go sideways...saving my cash for myself....



Not going to screw the CC co's, but ...yeah; I don't see any reason to spend my own cash for right now...so much has & can change each day, let alone in 30 when the bill comes due!



Tell me more of your thoughts on this, Mr. Cali-Glock......We're on the same page.

How exactly are you spending "other people's money?".

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[Futurecollector]

Originally Posted by miglo

How exactly are you spending "other people's money?".

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A credit card is not your money, its a loan.

He is implying that in any big collapse it won't really matter who you owe.

[DrjonesUSA]

Originally Posted by miglo

How exactly are you spending "other people's money?".

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As the post above me said; it’s just not your money.

When you buy stuff using a CC, you are using the CC to buy stuff, and then you are promising to pay back the card company; either within 30 days at no interest, or beyond 30 days with interest / fees.

Go & actually read the CC agreement - any of them - they’re all the same; “I promise to pay back this amount, this is the interest rate, etc”

Heck, many times I’ve seen when I go to sign off at a merchant after charging my card, on the receipt at the store it says “I promise to pay $XXX amount per my CC company agreement” or something like that.

So you go out & buy a bunch of stuff and then let’s say the CC company goes BK & closes down.

That agreement is worthless, for all intents & purposes.

Or let’s say that you buy a bunch of stuff using your CC & then suffer some catastrophe and have less in the bank than you owe to your CC.

What happens?

Other than a few phone calls, notifications, and interest accruing.....nothing.....yes they can ding your credit score, etc, but at the end of the day, you still have the physical goods & the CC co was left holding the bill...

Does that make sense?

Again; I’m not suggesting anyone do anything other than pay all their bills on time & in full, but in times of such great uncertainty, it makes perfect sense to me to spend other people’s money since 30 days is basically a year in today’s highly uncertain and rapidly changing world.....

Again; better to spend Other People’s Money (OPM) than your own....


LAST THING:
Better example;
Let’s say someone steals your wallet, uses one or more of your CC’s to buy a bunch of crap, fraudulently.

What happens?

Do YOU owe all that money, do YOU have thousands of dollars taken out of YOUR pocket / YOUR bank acct immediately?

Nope.

You call the CC Co, they simply write off the charges, close the acct & get you a new one.

You do not pay out of your pocket for those fraudulent charges.

You go on about your business as if it never happened.

The CC co is responsible for dealing with the rest.

Make sense?




X

[DrjonesUSA]

Originally Posted by Futurecollector

A credit card is not your money, its a loan.

He is implying that in any big collapse it won't really matter who you owe.

Stated much more succinctly.

[tsmithson]

Originally Posted by harbormaster

Stocks down,
Bullion down,
Jobs cut,
Rates cut,
Oil down,
Real estate always slow to the party,

What makes you think inflation is at hand? If you have no money / income how do you pay the CC, mortgage or rent?

It’s happened before. It was called the Great Depression and people sold everything for another month indoors.

Bullion is disappearing faster the TP.

[miglo]

Originally Posted by DrjonesUSA

As the post above me said; it’s just not your money.

When you buy stuff using a CC, you are using the CC to buy stuff, and then you are promising to pay back the card company; either within 30 days at no interest, or beyond 30 days with interest / fees.

Go & actually read the CC agreement - any of them - they’re all the same; “I promise to pay back this amount, this is the interest rate, etc”

Heck, many times I’ve seen when I go to sign off at a merchant after charging my card, on the receipt at the store it says “I promise to pay $XXX amount per my CC company agreement” or something like that.

So you go out & buy a bunch of stuff and then let’s say the CC company goes BK & closes down.

That agreement is worthless, for all intents & purposes.

Or let’s say that you buy a bunch of stuff using your CC & then suffer some catastrophe and have less in the bank than you owe to your CC.

What happens?

Other than a few phone calls, notifications, and interest accruing.....nothing.....yes they can ding your credit score, etc, but at the end of the day, you still have the physical goods & the CC co was left holding the bill...

Does that make sense?

Again; I’m not suggesting anyone do anything other than pay all their bills on time & in full, but in times of such great uncertainty, it makes perfect sense to me to spend other people’s money since 30 days is basically a year in today’s highly uncertain and rapidly changing world.....

Again; better to spend Other People’s Money (OPM) than your own....


LAST THING:
Better example;
Let’s say someone steals your wallet, uses one or more of your CC’s to buy a bunch of crap, fraudulently.

What happens?

Do YOU owe all that money, do YOU have thousands of dollars taken out of YOUR pocket / YOUR bank acct immediately?

Nope.

You call the CC Co, they simply write off the charges, close the acct & get you a new one.

You do not pay out of your pocket for those fraudulent charges.

You go on about your business as if it never happened.

The CC co is responsible for dealing with the rest.

Make sense?




X

Lol good luck with that. Sounds like solid financial advice.

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[CWL]

Thinking you can scam CC companies... good luck with that.

See how easy your life is over the next 7 years with things like finding a job, renting an apartment, buying a car or home. Have fun having to pay for everything in cash or MOs.

[therealnickb]

Originally Posted by CWL

Thinking you can scam CC companies... good luck with that.

See how easy your life is over the next 7 years with things like finding a job, renting an apartment, buying a car or home. Have fun having to pay for everything in cash or MOs.

Well, you can do all those things. You just pay a higher interest rate.

And fwiw. My MIL charged her husband’s funeral on his credit card. The card was in his name only. Guess what?

[miglo]

Originally Posted by therealnickb

Well, you can do all those things. You just pay a higher interest rate.



And fwiw. My MIL charged her husband’s funeral on his credit card. The card was in his name only. Guess what?

Congrats to your mil for committing credit card fraud. I guess maybe the apple doesn't fall far from the tree, which in this case, is the inlaw tree?

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[therealnickb]

Originally Posted by miglo

Congrats to your mil for committing credit card fraud. I guess maybe the apple doesn't fall far from the tree, which in this case, is the inlaw tree?

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Perfect logic.

I had nothing to do with it. Just thought is was funny.

My SIL paid the bill in full. Even after the the CC company contacted her first, offering to settle for 25%. They knew they were fooked.

Do you like apples?

[starlight]

Originally Posted by Cali-Glock

I think we are going to see major inflation and a dramatic devaluation of the dollar.

The combination of this along with a sketchy world I just went a bit nuts this evening;

Two complete Aero uppers with Geissele Automatics M4A1 (M-16 cut) 5.56 Bolt Carrier Group, Aero Precision AR-15 Ambidextrous Charging Handle, Aero Precision AR-15 Carbine Buffer Kit and Magpul Fixed Carbine Stock.

(Already have Aero Precision M4E1 lowers, Aero LPK, drop-in triggers, Ambi-selectors, and features grips.)

A complete PSA 16" build kit with Magpul MBUS.

Bunch of other stuff: more Ambi Charging handles, a bunch of compensators, featureless grips, several Magpul MBUS and one Magpul MBUS Pro offset and some other small parts.

Also ordered a Holosun HS403B for cheap and am considering also ordering a Holosun 510 and 3x magnifier.

- yes inflation is coming.. big inflation

- don't use CC's because debt=slavery

- but yes, spend now before the new printed currency devalues everything..

- new cash is going to be dumped on the world market

[starlight]

Originally Posted by tamalpias

if this was just a USA thing yes I can see massive inflation, but since it is a world wide event every other currency is devaluing and causing the dollar to gain in demand and value compared to the rest of the world. I am more worried about deflation.

- the US dollar is the world currency
- also EVERY country is passing a literal carbon-copy of the US relief bill just passed

- ie print more money, 0% loans, 'relief check'

- inflation is coming.....










.

[starlight]

Originally Posted by riderr

If only the U.S. economy crashed, you would see the inflation scenario. Otherwise, when the entire world economy goes to trash, I anticipate a slight deflation of the U.S. dollar over the most European and Asian currencies

- no
- new/easy money=inflation

- fed dropped the interest rate to 0% 3 weeks ago.
- new relief bill just passed gives everyone a check for $1200 and up to $3000 for families AND access to 0% interest loans

- inflation imminent.....






.

[starlight]

Originally Posted by harbormaster

Stocks down,


What makes you think inflation is at hand?

- fed reduced rate to 0%
- literal 'stimulus relief-bill' just passes into law dishing out trillions in free money

- inflation inbound........









.

[starlight]

Originally Posted by harbormaster

If you fear inflation = use cash
If you fear deflation = hoard cash

^ this..



time to spend........









.



.

[starlight]

Originally Posted by Anonymous_Ghost

The 0%'s and intro bonuses offers are the most important thing CC lines offer, access to good limits is the other. You need good credit for those. Paying high interest and/or bankruptcy sub prime use aren't the optimal use of these financial products.

"financial products" = 9-to-5 debt-slavery..






















.

[DrjonesUSA]

Originally Posted by miglo

Lol good luck with that. Sounds like solid financial advice.

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Originally Posted by CWL

Thinking you can scam CC companies... good luck with that.

See how easy your life is over the next 7 years with things like finding a job, renting an apartment, buying a car or home. Have fun having to pay for everything in cash or MOs.

Nobody ever accused you guys of having any reading comprehension whatsoever, eh?

Originally Posted by therealnickb

Well, you can do all those things. You just pay a higher interest rate.

And fwiw. My MIL charged her husband’s funeral on his credit card. The card was in his name only. Guess what?

Anyone here crowing about banks & CC’s; go watch “The Big Short” about the 2008/9 financial crisis, come back here & tell me your thoughts on banks.





.

[71MUSTY]

I don't really like Canadian Club, but I bought some Gentleman Jack

[miglo]

Originally Posted by DrjonesUSA

Nobody ever accused you guys of having any reading comprehension whatsoever, eh?



















Anyone here crowing about banks & CC’s; go watch “The Big Short” about the 2008/9 financial crisis, come back here & tell me your thoughts on banks.











.

Maybe I should have attached a "/s" for those too dense to see it.

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[harbormaster]

The stimulus should cause some inflation but with out income if there is a long term unemployment the opposite will run true. With out regular income people will sale goods and assets at a discount to pay bills.

Originally Posted by starlight

- fed reduced rate to 0%
- literal 'stimulus relief-bill' just passes into law dishing out trillions in free money

- inflation inbound........









.

[DrjonesUSA]

Originally Posted by miglo

Maybe I should have attached a "/s" for those too dense to see it.

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Sorry bud....there’s lots of BS being spewed, I guess my sarcasm detector is on the fritz.

[the86d]

Maybe it's a good time to CC some cap and ball stuff, w/the markup one could make from the ignorant and panicked people asking to borrow/buy things this could be made in profit-GALORE, all w/no paperwork!

Pay that credit card off quicker!